BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
COLOGNE , GermanyAXA Konzern A.G. , the Cologne, Germany-based unit of AXA S.A., has launched an environmental policy to cover liabilities under Germany's new environmental protection law, the insurer announced.
The environmental law, or Umweltschadensgesetz, was passed in May in order to transpose the European Union's Environmental Liability Directive (2004/35/EC) into German law.
While the law goes into effect in November, German companies can be held liable for environmental damage retroactive to April 30, which was the E.U. deadline for transposition, according to AXA.
AXA's policy, which offers retroactive coverage for environmental claims, is one of the first German polices to be based on the nonbinding insurance model developed by the Berlin-based Gesamtverband der Deutschen Versicherungswirtschaft e.V., Germany's insurance association.
The GDV model officially unveiled at the end of April was designed to be a basis for German insurers to create products to cover the new exposures under the E.U. directive.